Shares of Middlesex Water Company (NASDAQ:MSEX) have been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Brokers have set a 1-year consensus target price of $39.00 for the company and are anticipating that the company will post $0.38 earnings per share for the current quarter, according to Zacks. Zacks has also given Middlesex Water an industry rank of 104 out of 265 based on the ratings given to related companies.
Shares of Middlesex Water (NASDAQ MSEX) traded up 2.14% during midday trading on Thursday, reaching $40.08. The company had a trading volume of 38,864 shares. Middlesex Water has a one year low of $32.23 and a one year high of $44.48. The firm has a market capitalization of $653.46 million, a P/E ratio of 29.26 and a beta of 0.40. The company has a 50 day moving average price of $39.59 and a 200-day moving average price of $37.47.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a $0.2113 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.85 dividend on an annualized basis and a yield of 2.11%. Middlesex Water’s dividend payout ratio is 62.50%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSEX. Ameriprise Financial Inc. raised its position in Middlesex Water by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 10,852 shares of the utilities provider’s stock worth $401,000 after buying an additional 130 shares in the last quarter. Aperio Group LLC raised its position in Middlesex Water by 1.1% in the second quarter. Aperio Group LLC now owns 14,832 shares of the utilities provider’s stock worth $587,000 after buying an additional 155 shares in the last quarter. Comerica Bank raised its position in Middlesex Water by 3.1% in the fourth quarter. Comerica Bank now owns 18,564 shares of the utilities provider’s stock worth $729,000 after buying an additional 551 shares in the last quarter. Financial Architects Inc raised its position in Middlesex Water by 3.6% in the second quarter. Financial Architects Inc now owns 16,481 shares of the utilities provider’s stock worth $653,000 after buying an additional 568 shares in the last quarter. Finally, American International Group Inc. raised its position in Middlesex Water by 7.1% in the first quarter. American International Group Inc. now owns 9,770 shares of the utilities provider’s stock worth $361,000 after buying an additional 644 shares in the last quarter. Institutional investors and hedge funds own 49.05% of the company’s stock.
Middlesex Water Company Profile
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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